Nevertheless, the producer is unable to implement any increases in the coal-based PP and PE cargoes. On the contrary, the auction price for LLDPE dropped CNY30/ton day-on-day, which partially contributed to the positive responses from the
The Chinese market has not been able to sustain the active buying sentiment observed prior to the holiday as poor holiday spending data coupled with a series of interest rate hikes in Europe once again erode market confidence.
Key regional and international suppliers started announcing July shipment offers to Southeast Asia and amid the soft demand conditions, a Saudi Arabia producer conceded to $60-70/ton reductions on both HDPE and LLDPE film cargoes